Essex Investment Management Co. LLC Sells 96,088 Shares of Crexendo, Inc. (NASDAQ:CXDO)

Essex Investment Management Co. LLC cut its holdings in Crexendo, Inc. (NASDAQ:CXDO - Free Report) by 11.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 732,671 shares of the company's stock after selling 96,088 shares during the quarter. Essex Investment Management Co. LLC owned approximately 2.74% of Crexendo worth $3,832,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GSA Capital Partners LLP grew its position in shares of Crexendo by 41.2% in the 3rd quarter. GSA Capital Partners LLP now owns 17,598 shares of the company's stock worth $82,000 after buying an additional 5,139 shares during the period. Barclays PLC purchased a new stake in shares of Crexendo in the 3rd quarter worth about $109,000. ARS Investment Partners LLC purchased a new stake in shares of Crexendo in the 4th quarter worth about $243,000. Finally, Geode Capital Management LLC grew its position in shares of Crexendo by 18.4% in the 3rd quarter. Geode Capital Management LLC now owns 140,193 shares of the company's stock worth $651,000 after buying an additional 21,739 shares during the period. 9.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Crexendo

In other Crexendo news, CEO Jeffrey G. Korn sold 10,000 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $6.00, for a total transaction of $60,000.00. Following the transaction, the chief executive officer now owns 243,384 shares in the company, valued at approximately $1,460,304. This represents a 3.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO David Tzat-Kin Wang sold 12,293 shares of the company's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $5.15, for a total transaction of $63,308.95. Following the transaction, the chief technology officer now owns 443,079 shares in the company, valued at $2,281,856.85. This represents a 2.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 128,960 shares of company stock worth $645,977. Company insiders own 56.20% of the company's stock.

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Crexendo Price Performance

CXDO stock traded up $0.44 during trading on Wednesday, hitting $6.35. 375,567 shares of the stock traded hands, compared to its average volume of 149,161. Crexendo, Inc. has a 1 year low of $2.92 and a 1 year high of $7.34. The firm's 50 day moving average is $5.93 and its two-hundred day moving average is $5.40. The stock has a market cap of $177.17 million, a price-to-earnings ratio of 211.74 and a beta of 1.15.

Wall Street Analyst Weigh In

CXDO has been the topic of a number of recent research reports. D. Boral Capital upped their target price on shares of Crexendo from $7.00 to $10.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. B. Riley reissued a "buy" rating and set a $7.50 price objective (up from $6.75) on shares of Crexendo in a research report on Wednesday, March 5th.

About Crexendo

Crexendo, Inc provides cloud communication platform and services, video collaboration, and managed IT services for businesses in the United States and internationally. It operates through two segments, Cloud Telecommunications Services and Software Solutions. The Cloud Telecommunications segment provides telecommunications services that transmit calls using Internet protocol (IP) or cloud technology, which converts voice signals into digital data packets for transmission over the Internet or cloud; and broadband Internet services, as well as develops end user portals for account and license management, and billing and customer support.